Contrast cost benefit analysis with investment appraisal, Project Management

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Question:

(a) Describe cost benefit analysis as used to appraise large public sector investments.

(b) Compare and contrast cost benefit analysis with investment appraisal.

i. Shadow price
ii. Social opportunity costs of capital
iii. Social time preference rate

(d) What are the difficulties that occur in cost- benefit analysis that are not apparent in ordinary investment projects?

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